the u.s. cpa license · the uniform cpa examination about the aicpa american institute of certified...

The Uniform CPA Examination

The U.S. CPA License

Patricia Hartman

Director of Client Services, NASBA

Michael Cannon, CPA

Senior Technical Manager – AICPA

Henrietta Eve, CPA

Technical Manager – AICPA


About the AICPAAmerican Institute of Certified Public Accountants

►The world’s largest membership association

representing the accounting profession

►Over 412,000 members in 144 countries

►More than 128 years of serving the public interest

►Creates and scores the Uniform CPA Examination and

offers specialty credentials for CPAs


About NASBANational Association of State Boards of Accountancy

►The world’s largest accounting regulatory organization

►Represents the interests of all 55 U.S. Boards of

Accountancy (50 states and 5 territories)

►Mission is to enhance the effectiveness and advance

the common interests of the Boards of Accountancy

►Accountancy Boards issue licenses to CPAs and

regulate the practice of public accountancy in their

jurisdiction


Overview

►The U.S. CPA License

►The International Program

►How to Become a Licensed U.S. CPA

►The Examination Process

►Experience

►Resources for Candidates


THE U.S. CPA LICENSE


The U.S. CPA

►Premier accounting license backed by rigorous exam, strict licensing requirements and a code of ethics

►Worldwide recognition as a leading qualification

►Prepares professionals for today’s global business environment

►Expands career opportunities


The CPA License in High Demand

Exciting Opportunities

Foundational Financial skills

Career

Development


Middle East Hiring Climate

“Accounting and Finance

recruitment is looking positive…”

“Looking at the roles that are most

difficult to fill, CFOs state that

functional areas including

accounting, financial and

management control, business and

financial analysis and audit present

the toughest challenges.”

*Robert Half 2016 Salary Guide (Middle East)

of CFOs find it a

challenge to source

skilled financial

professionals*

93%

of CFOs find it a

challenge to source

skilled accounting

professionals*

28%

of CFOs find it a

challenge to source

skilled audit

professionals*

23%

Skills and Qualifications in Demand:

Experienced with accounting standards US GAAP, IFRS and SOX


Profession Outlook (2016)

►Position: Audit Manager (large company)● $141,000 – 253,250

►Position: Internal Auditor (large company)

● $65,250 - $81,750

►Position: Senior Internal Auditor (large company)

● $88,2500 - $147,000

*According to Robert Half 2016 Salary Guide (Middle East)


THE INTERNATIONAL

PROGRAM


Why International Administration?

►Candidate demand and convenience

►Provide opportunities for personal growth and

contribute to economic prosperity

►Position CPA to be one of a small number of

influential designations internationally

The Uniform CPA ExaminationThe Uniform CPA Examination®

International CPA Exam

Nearly 10,000

candidates

sat for the

Exam in the

Middle East

since it was

launched

Testing

centers:

• Bahrain

• Kuwait

• Lebanon

• UAE

The International Program for the CPA Exam was launched as a

service to our candidates living outside of the 55 boards of

accountancy and jurisdictions.


Middle East Candidates Pass Rates by Section

0%

10%

20%

30%

40%

50%

60%

70%

80%

2013Q-1

2013Q-2

2013Q-3

2013Q-4

2014Q-1

2014Q-2

2014Q-3

2014Q-4

2015Q-1

2015Q-2

2015Q-3

AUD

Middle East Domestic

0%

10%

20%

30%

40%

50%

60%

70%

80%

2013Q-1

2013Q-2

2013Q-3

2013Q-4

2014Q-1

2014Q-2

2014Q-3

2014Q-4

2015Q-1

2015Q-2

2015Q-3

BEC


0%

10%

20%

30%

40%

50%

60%

70%

80%

2013Q-1

2013Q-2

2013Q-3

2013Q-4

2014Q-1

2014Q-2

2014Q-3

2014Q-4

2015Q-1

2015Q-2

2015Q-3

2015Q-4

FAR


0%

10%

20%

30%

40%

50%

60%

70%

80%

2013Q-1

2013Q-2

2013Q-3

2013Q-4

2014Q-1

2014Q-2

2014Q-3

2014Q-4

2015Q-1

2015Q-2

2015Q-3

REG



Bahrain – Pass Rates by Section

0%

10%

20%

30%

40%

50%

60%

70%

80%

2013Q-1

2013Q-2

2013Q-3

2013Q-4

2014Q-1

2014Q-2

2014Q-3

2014Q-4

2015Q-1

2015Q-2

2015Q-3

AUD

Bahrain Domestic

0%

10%

20%

30%

40%

50%

60%

70%

80%

2013Q-1

2013Q-2

2013Q-3

2013Q-4

2014Q-1

2014Q-2

2014Q-3

2014Q-4

2015Q-1

2015Q-2

2015Q-3

BEC

Bahrain Domestic

0%

10%

20%

30%

40%

50%

60%

70%

80%

2013Q-1

2013Q-2

2013Q-3

2013Q-4

2014Q-1

2014Q-2

2014Q-3

2014Q-4

2015Q-1

2015Q-2

2015Q-3

FAR

Bahrain Domestic

0%

10%

20%

30%

40%

50%

60%

70%

80%

2013Q-1

2013Q-2

2013Q-3

2013Q-4

2014Q-1

2014Q-2

2014Q-3

2014Q-4

2015Q-1

2015Q-2

2015Q-3

REG

Bahrain Domestic


Kuwait – Pass Rates by Section

0%

10%

20%

30%

40%

50%

60%

70%

80%

2013Q-1

2013Q-2

2013Q-3

2013Q-4

2014Q-1

2014Q-2

2014Q-3

2014Q-4

2015Q-1

2015Q-2

2015Q-3

AUD

Kuwait Domestic

0%

10%

20%

30%

40%

50%

60%

70%

80%

2013Q-1

2013Q-2

2013Q-3

2013Q-4

2014Q-1

2014Q-2

2014Q-3

2014Q-4

2015Q-1

2015Q-2

2015Q-3

BEC

Kuwait Domestic

0%

10%

20%

30%

40%

50%

60%

70%

80%

FAR 2013Q-1

2013Q-2

2013Q-3

2013Q-4

2014Q-1

2014Q-2

2014Q-3

2014Q-4

2015Q-1

2015Q-2

2015Q-3

FAR

Kuwait Domestic

0%

10%

20%

30%

40%

50%

60%

70%

80%

2013Q-1

2013Q-2

2013Q-3

2013Q-4

2014Q-1

2014Q-2

2014Q-3

2014Q-4

2015Q-1

2015Q-2

2015Q-3

REG

Kuwait Domestic


Lebanon – Pass Rates by Section

0%

10%

20%

30%

40%

50%

60%

70%

80%

2013Q-1

2013Q-2

2013Q-3

2013Q-4

2014Q-1

2014Q-2

2014Q-3

2014Q-4

2015Q-1

2015Q-2

2015Q-3

AUD

Lebanon Domestic

0%

10%

20%

30%

40%

50%

60%

70%

80%

2013Q-1

2013Q-2

2013Q-3

2013Q-4

2014Q-1

2014Q-2

2014Q-3

2014Q-4

2015Q-1

2015Q-2

2015Q-3

BEC

Lebanon Domestic

0%

10%

20%

30%

40%

50%

60%

70%

80%

2013Q-1

2013Q-2

2013Q-3

2013Q-4

2014Q-1

2014Q-2

2014Q-3

2014Q-4

2015Q-1

2015Q-2

2015Q-3

FAR

Lebanon Domestic

0%

10%

20%

30%

40%

50%

60%

70%

80%

2013Q-1

2013Q-2

2013Q-3

2013Q-4

2014Q-1

2014Q-2

2014Q-3

2014Q-4

2015Q-1

2015Q-2

2015Q-3

REG

Lebanon Domestic


UAE – Pass Rates by Section

0%

10%

20%

30%

40%

50%

60%

70%

80%

2013Q-1

2013Q-2

2013Q-3

2013Q-4

2014Q-1

2014Q-2

2014Q-3

2014Q-4

2015Q-1

2015Q-2

2015Q-3

AUD

UAE Domestic

0%

10%

20%

30%

40%

50%

60%

70%

80%

2013Q-1

2013Q-2

2013Q-3

2013Q-4

2014Q-1

2014Q-2

2014Q-3

2014Q-4

2015Q-1

2015Q-2

2015Q-3

BEC

UAE Domestic

0%

10%

20%

30%

40%

50%

60%

70%

80%

2013Q-1

2013Q-2

2013Q-3

2013Q-4

2014Q-1

2014Q-2

2014Q-3

2014Q-4

2015Q-1

2015Q-2

2015Q-3

FAR

UAE Domestic

0%

10%

20%

30%

40%

50%

60%

70%

80%

2013Q-1

2013Q-2

2013Q-3

2013Q-4

2014Q-1

2014Q-2

2014Q-3

2014Q-4

2015Q-1

2015Q-2

2015Q-3

REG

UAE Domestic


Uniquely position to provide guidance to CPA candidates, NASBA’s Advisory Evaluation aligns a candidate’s current education with a chosen jurisdiction and puts them on the

right path to examination or licensure.


HOW TO BECOME A

LICENSED U.S. CPA


Eligibility: 3 + 1 E’s to Becoming a CPA

*Certain states require a separate ethics assessment in addition to what is tested on the CPA Exam.

Experience, Education and Ethics requirements vary by jurisdiction. Of

the requirements, only the Examination is uniform and accepted for CPA

licensure by all jurisdictions.


The CPA Exam is a Collaborative Effort


Uniform CPA Exam

Audit and

Attestation

4 hours

Financial

Accounting

and Reporting

4 hours

Regulatory

3 hours

Business

Environment

and Concepts

3 hours

40%

Simulations

60%

Multiple Choice

Questions (MCQ)

85% MCQ

15% Written Communication

14 testing hours s Two months each quarter

Offered internationally through 50 states/5 US jurisdictions

Computer-based test s Must pass all four sections within 18 months


Uniform CPA Examination (2017)

►An updated version of the CPA Exam is slated to

launch in April 2017

►Specifics about the next version of the CPA Exam will

be announced in April 2016, but highlights are

expected to include: ● Maintain the four existing sections

● Enhance assessment of higher order skills: analysis and evaluation

● More simulations, including in BEC

● New blueprints to bring greater clarity of what to expect on the Exam

More information about the next version

of the CPA Exam is available at

www.aicpa.org/nextcpaexam


THE EXAMINATION

PROCESS


The Examination Process

►Determine Eligibility● Check with your selected jurisdiction on requirements to sit for the Exam

(state requirements vary between 120 or 150 hours of education)

● Meet eligibility requirements for selected jurisdiction

►Submit Application● Complete application and submit required documentation

● Application is evaluated to verify eligibility to sit for Exam

● Candidates receive Notice to Schedule (NTS)

►Schedule Exam ● Schedule Exam with Prometric after receiving NTS

● Any U.S. site can be used regardless of jurisdiction

● International locations require an additional fee

● NTS is valid for 6 months in most jurisdictions (varies by state)


The Examination Process

►Sit for the Exam● Study, study, study

● Arrive 30 minutes prior to appointment

● Bring your NTS and proper identification

►Receive Scores ● Consult www.aicpa.org/cpaexam, www.nasba.org or the AICPA Insights

blog for score release timelines

►Apply for License ● Requires a passing score on all four sections and other requirements

http://www.aicpa.org/cpaexam

http://www.nasba.org/


License Requirements – Experience

►Vary among jurisdictions

►Minimum of 1 year (2,000 hours)

►Verified by a licensed CPA

►Should include accounting, attest, auditing, or tax

NASBA is currently building out a service to facilitate the experience

component for international candidates and connect them with

qualified CPAs. This service will be available early next year.


Questions?


EXPERIENCE


Building Experience

► Internships/Positions

►Employs licensed U.S. CPAs● Public Accounting Firms

● Global Companies


Questions?


RESOURCES FOR

CANDIDATES


Uniform CPA Exam Resources

www.aicpa.org/cpaexam

*Updated sample tests as of December 2015



www.ThisWaytoCPA.com

www.thiswaytocpa.com

http://www.thiswaytocpa.com/

http://www.thiswaytocpa.com/


https://www.thiswaytocpa.com/exam-licensure/exam-diary/

https://www.thiswaytocpa.com/exam-licensure/exam-diary/


https://www.thiswaytocpa.com/profession/find-your-fit/

https://www.thiswaytocpa.com/profession/find-your-fit/


State Requirements

https://www.thiswaytocpa.com/exam-licensure/state-requirements/





www.aicpa.org/cpaexam



Thank You/Questions?

the u.s. cpa license · the uniform cpa examination about the aicpa american institute of certified...

Documents